What is Decentralized Governance under the 73rd and 74th Constitutional Amendment Acts?

Decentralized Governance (73rd & 74th Amendments, 1992):

• Third-Tier Democracy: Accorded constitutional status to Rural Local Bodies (Panchayati Raj, Part IX) and Urban Local Bodies (Municipalities, Part IX-A).
• Key Features: 3-tier structure, mandatory elections every 5 years, State Election Commissions, State Finance Commissions, and 33% reservation for women.
• Objective: Grassroots democracy and localized decision-making.